Investor Presentaiton
CURRENT REGULATORY FRAMEWORK
In-Built protections - No regulatory resets until 2015/2016.
Regulated Asset
Base (RAB)
X
Weighted Av. Cost
of Capital (WACC)1
Well established, transparent regulatory process
with resets every 5 years; CPI-X price formula
Regulated
Revenue (target)
Depreciation²
+
Operating
Expenditure
Tax
Regulated
Tariff
☑
Forecast
Volume
Regulated
Tariff
1. Based on 10 year Commonwealth Treasury Note. Includes both an equity
premium and a debt premium (BBB+/Baa1)
2. Depreciation based on regulated economic life of assets
Actual
Volume
Actual
Revenue
RAB AND REVENUES ARE ADJUSTED FOR INFLATION ANNUALLY (inflation protected)
SPARK INFRASTRUCTURE - INVESTOR PRESENTATION - NOVEMBER 2013 8
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